Business Context and Reporting Period
Company: Oil States International, Inc.
Filing Type: Form 8-K (Current Report)
Reporting Date: February 1, 2005
Event: Completion of the acquisition of Elenburg Exploration Company, Inc.
Key Financial Metrics
This filing reports a specific transaction rather than periodic financial results. The filing text does not provide revenue, profit, cash flow, margins, debt, or liquidity metrics for the Company or the acquired entity.
- Acquisition Consideration: $22.0 million (total for all outstanding voting and common stock).
- Assets Acquired: Seven shallow land drilling rigs located in Wyoming, Montana, Utah, and Colorado.
Material Changes
The material change reported is the expansion of the Company's asset base through the acquisition of Elenburg Exploration Company, Inc. This transaction adds seven operational drilling rigs to the Company's portfolio in the specified western states.
Guidance, Outlook, and Risks
The filing text does not provide updated financial guidance, management outlook, specific risk factors, or contingencies related to this transaction. The report focuses solely on the announcement of the completed stock purchase agreement.
Investor Verification Checklist
- Verify the integration timeline and operational status of the seven acquired drilling rigs.
- Confirm the funding source for the $22.0 million consideration (e.g., cash on hand, debt financing, or stock issuance).
- Review the full text of the press release (Exhibit 99.1) for details on Elenburg's historical performance or synergies.
- Assess the impact of this acquisition on the Company's future capital expenditure plans.